Date:08/05/2005 URL: http://www.thehindubusinessline.com/2005/05/08/stories/2005050801280500.htm

Back Bajaj Allianz net up 117 pc at Rs 47 cr

Our Bureau

Mumbai , May 7

BAJAJ Allianz General has posted a gross premium income of Rs 856 crore, a growth of 79 per cent over last year's Rs 480 crore. The net profit is at Rs 47 crore, up by 117 per cent.

The claim payouts surpassed Rs 260 crore and the claim settlement ratio stood at 93 per cent.

The company issued over two million policies over the past year and had a retention ratio of about 56 per cent.

Mr Kamesh Goyal, CEO, Bajaj Allianz General, said, "The year 2004-05 was a year for consolidation for us as it marked the fourth financial year of our operations."